1. Resource Library

Refresh Miami: Two years after DadeSystems acquisition, Versapay sees explosive growth & plants HQ in Miami

  • 3 min read

Refresh Miami covered Versapay's rapid growth since acquiring DadeSystems in 2022, enhancing its accounts receivable automation and AI capabilities as well as the transition of its headquarters from Toronto to Miami, Florida

Frame 1

From the article:

"Versapay has been quietly growing quite explosively since it acquired the homegrown DadeSystems in 2022 to broaden its accounts receivable automation solutions, expand its AI and machine learning capabilities, and grow its mid-market footprint. Last fall, the financial technology company, formerly headquartered in Toronto, relocated its corporate base to Miami-Dade’s Dadeland area.

Today, Versapay says 5 million businesses transact on the Versapay payments network, amounting to a 5X growth in the network since hitting the 1 million milestone just 18 months ago.

At a time of high costs for capital and surging fraud, the growth milestone shows that mid-market companies in particular are looking to Versapay for their secure, reliable transactions, said CEO Carey O’Conor Kolaja. The middle market makes up about a third of private sector GDP and employment.

'We believe the future of mid-market business growth hinges on technology partners that have proven confidence and fidelity in moving money. Five million businesses on our network speaks volumes to trust, security, and especially efficiency in transacting with Versapay,' Kolaja, an industry veteran with 25+ years of financial services executive leadership experience, said in a statement.

Versapay is a remote-first company with more than 400 employees, including about 20 in South Florida. Vice President of Engineering Doug Hathaway said that after the 2022 acquisition of DadeSystems, he and the team stayed on. Hathaway was the founding CTO of DadeSystems, and was even involved in writing the first lines of code in 2011 for a product that is still one of Versapay’s key products today..."

Read the full report from Refresh Miami here.

About Versapay

For growing businesses that need to accomplish more with less, Versapay’s Accounts Receivable Efficiency Suite simplifies the invoice-to-cash process by automating invoicing, facilitating B2B payments, and streamlining cash application with AI. Versapay integrates natively with top ERPs, while allowing businesses to collect with a self-serve payment portal and collaborate with customers and teammates to resolve what automation alone can’t. Owned by Great Hill Partners, Versapay’s employee base spans the U.S. and Canada with offices in Atlanta and Miami. With 10,000 customers and 5M+ companies transacting, Versapay facilitates 110M+ transactions and processes $170B+ in payments volume annually.

Join the conversation at linkedin.com/company/versapay and x.com/Versapay. To learn more about how Versapay unlocks accounts receivable efficiency, visit: versapay.com.

Versapay Media Contact

[email protected]

Always stay up-to-date


Join the 50,000 accounts receivable professionals already getting our insights, best practices, and stories every month.